Love Letter to Your Family?

Most people know that it is a good idea to keep their will up to date and to make sure they have their beneficiaries updated on all of their accounts.  But have you ever thought of compiling all of your account information in one spot to make things easy on your loved ones if something happens to you?

Before the advent of online everything, we received statements in the mail, monthly or perhaps quarterly and certainly annually.  When someone passed away or became incapacitated, the US Mail would answer a lot of questions about where accounts were held. Now so much of our life is managed online, it’s more difficult to identify the companies that we do business with unless there is a roadmap.

That’s where the “Love Letter” comes in.  Putting together a comprehensive list of your accounts, including usernames and passwords can make it so much easier on your loved ones, should they need to access your accounts. Below is a starting list of what you can include:

• Bank and investment accounts

• Life, Disability and Long Term Care policies

• Attorney and Accountant names

• Real estate owned and location of documentation

• Credit cards and outstanding loans

• Location of safe deposit box or safe

The best part of creating this document is the peace of mind you will feel after completing it. Don’t hesitate to reach out if you have questions about managing your finances to make it easier on you and your family.